19-Carat ‘Pink Legacy’ Diamond Sold For World-Record $50 Million

An enormous 19-carat diamond known as “Pink Legacy” was purchased by Harry Winston at an auction in Geneva this week. The U.S.-based brand paid $2.6 million per carat for the impressive stone, setting a world record in the process, according to the BBC.

Bidding only lasted for five minutes for the diamond, which had been valued at $30 to $50 million. Pink Legacy has been called “one of the world’s greatest diamonds.” It was once owned by the Oppenheimer family, who previously owned the De Beers mining company. The diamond had a grade of “fancy vivid,” the highest level of color intensity.

Pink Legacy was found in a mine about a century ago and first cut into a rectangular shape in 1920. For this particular example, Harry Winston has renamed the diamond “the Winston Pink Legacy,” and will add the gem to its collection of rare jewels, according to CNBC.

Pink diamonds have been trendy late, according to CNN. Previously, the Pink Star diamond was the most expensive jewel to be sold at auction in April 2017. In November of that year, the Pink Promise was sold for $32.5 million. The Pink Promise was nearly 15 carats in size.

The stunning pink diamond ring will be offered through the Harry Winston Legacy Collection, a collection of some of the world’s biggest and most impressive diamonds. Harry Winston prides itself on offering the biggest and highest-quality diamonds.

Few people have more than $50 million to spend on a single ring, so the Pink Legacy has a limited number of possible owners. It’s possible that Harry Winston may sell the Pink Legacy at another auction a few years from now. Previously, Harry Winston sold another large pink diamond, the Graff Pink diamond, at an auction. It sold for $46 million, purchased by a British diamond dealer, per MSN.

Harry Winston, the man who founded the eponymous business, has been called the “king of diamonds,” according to the Telegraph.

Winston was also known as “Jeweler to the Stars,” as several royals, movie legends, and other celebrities had purchased diamonds from him. Both Elizabeth Taylor and Jackie Kennedy wore rings from Harry Winston. Winston himself died in 1978 at age 82, but the company continues to maintain a reputation for selling some of the world’s most expensive diamonds.

In 251 years, Christie’s has auctioned only four diamonds weighing more than 10 carats. Tuesday marked the first of a two-day auction Christie’s is hosting in Geneva. On Wednesday, jewelry once owned by the famous Queen Marie Antoinette will go on the block. The jewelry has not been seen in public for 200 years, according to NBC News.